DAE Delivers New A320 to Startup Airline flyadeal

Saudia subsidiary receives the first of eight aircraft from Dubai lessor

Dubai, U.A.E., 23 August 2017 – Dubai Aerospace Enterprise (DAE) Ltd. has announced the delivery of an Airbus A320-200 aircraft to new customer, flyadeal. The delivery took place at the Airbus delivery centre in Hamburg, Germany, and represents the first aircraft in the flyadeal fleet.

The Dubai-based lessor has agreed to lease eight Airbus A320 family aircraft to the new Saudi Arabian low cost airline. All aircraft will come equipped with CFM 56-5B4/3 PIP engines. These modern, fuel-efficient planes will be delivered in 2017 and 2018 and are part of a direct order DAE has with Airbus.

flyadeal is a subsidiary of the internationally-acclaimed Saudi Arabian Airlines group. The airline will offer low-cost travel options to leisure and business travelers and service destinations in the Middle-East and beyond. flyadeal will begin flight operations in September 2017.

Commenting on the deal, DAE Chief Executive Officer, Firoz Tarapore said: "DAE is pleased to welcome flyadeal on-board as a new customer. This transaction demonstrates our capital strength and our ability to provide comprehensive solutions to airline clients. We are delighted to be able to support flyadeal’s fleet strategy as it begins operations, and we look forward to working with the airline to fulfill its fleet ambitions going forward."

Chief Executive Officer of flyadeal, Con Korfiatis said: "flyadeal has selected key partners from across the aviation industry to deliver services that provide the most economical solutions for flyadeal’s low-fare, high value business model. Dubai Aerospace Enterprise’s long-standing presence in aviation solutions presented the ideal platform to build the new fleet for flyadeal."

Airbus Commercial Aircraft Chief Operating Officer - Customers, John Leahy said, "It is a pleasure to expand our partnership with Dubai Aerospace Enterprises and be part of flyadeal’s official operational launch."

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About DAE

Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized and award-winning aerospace company headquartered in Dubai. More information can be found on the company’s web site at www.dubaiaerospace.com.

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